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Strategies for maximizing diversity and securing access to capital

Strategies for maximizing diversity and securing access to capital

  • R. Donahue Peebles, Chairman & CEO, The Peebles Corporation

 

R. Donahue Peebles, CEO of Peebles Corporation, discusses strategies for maximizing diversity and securing access to capital in the real estate industry. Mr. Peebles shares his personal experiences and challenges in the industry, emphasizing the importance of diversity and equitable economic inclusion. He also talks about the capital stack for his projects and his efforts to democratize capital investment in real estate.

00:00 Maximizing Diversity and Capital: A Developer’s Perspective
Don Peebles discusses strategies for maximizing diversity and securing access to capital.
Miami’s growth in real estate and hospitality market since 2020.
Peebles views Miami as a city of the future, contrasting it with New York and Los Angeles.

05:54 From Tourism Boycott to Economic Inclusion: The Journey of Developing the Royal Palm Hotel
In the 1990s, Peeble’s life changed when he visited Miami and saw an opportunity for African-American development.
He successfully won the development rights for the Royal Palm Hotel, becoming the first major hotel in the US developed and owned by an African-American developer.
The hotel’s opening marked a significant moment of economic inclusion and progress for Miami Beach, turning the tide from a tourism boycott to a major hotel.

11:47 Challenges and Opportunities for Economic Inclusion in America
The story of the first black member purchasing a restricted club
Income and home ownership disparities for black Americans
Challenges faced by the luxury hotel industry in welcoming black travelers

17:42 The Importance of Diversity and Inclusion in the Hotel Industry
Diversity is good for business and can change profit numbers in hotel operations.
The biggest impediment to greater economic inclusion is ownership, due to limited access to capital.
Public employee pension systems, majority women, allocate capital unfairly, hindering diversity in ownership.

23:38 From Hotel Doorman to Hotel Owner: The American Dream and Affirmative Development
Mr. Peeble’s father worked at the Wardman Park Marriott for 41 years, providing opportunities for his family.
He emphasizes the importance of providing opportunities for upward mobility and affirmative development.
Mr. Peebles challenges the audience to take responsibility and make the industry a fair and equitable environment.

29:31 Capital Stack and Funding Strategies for Real Estate Development
Capital stack includes senior debt, private equity, and venture capital.
Seeking funding from sovereign wealth funds, retailers, and individual investors.
Exploring options to democratize capital and allow direct investment in real estate developments.